1935-07 Agreement w/Citizens Bank of Stuart11it; -LU-LJ-UW1L16 n .)_LUtP1U11 VVUb PXUbVL1UUU UY kjUU1iU1-L
who moved its adoption and upon seconded by Councilman Singletary and put
to a vote.* was unanimously adopted.
R E S 0 L U T 1 0 N
WHEREAS? The City Council of the City of Okeechobee, Florida,
entered into an agreement with Citizens Bank of Stuart at Stuart, Florida,
whereby said Bank was duly designated the Official Depository for the said
City of Okeechobee, and
WHEREAS, pursuant to said agreement the said Citizens Bank of
Stuaxt delivered to City of Okeechobee, Florida, the following described
securities:
1— $500-00 U. S. Treasury Bond dated
October 15th., 1933, Due Octoberl5th.,,
1945, No. 31465E, beaxing interest 341%
with interest coupon maturing April 15th.
1934 and subsequent attached.
I- $1,000.00 u. s. 4th.1 4eo? Liberty
if 1933-39,
Loan Bond 0 Maturity No.E02687635
with April 15th.2 1934, and subsequent
interest coupons attached.
WHEREAS., the deposits of
$5,000-00 and it is unlikely that
the near future wld all deposits
and
said City of Okeechobee is less than
said deposits will exceed that sum in
of said Bank are insured UP to $5,000-00
WHEREAS, the said Citizens Bank of Stuart has requested this
Council �b release the securities above mentioned and described,
NOW, THEREFORE, BE IT RESOLVED, that said se - curities be, and they
are hereby released unto the said Citizens Bank of Stuart, with the under—
standing that if the said deposits of the said City- of Okeechobee exceed
the amount of $5,000-00, that said Bank will imediately deposit s4Ltisfaotory-
securittoi upon demand of the City Council; Be it further resolved that
the City Clerk be, and he is" hereby authorized and instructed to deliver
the above described securities to the said Citizens Bmk of Stufrt and
obtain receipt therefor.
483
PASSED AND
ADOPTEDAn open wssion of the City
Council this 14th.p day of March
A. D. 19350
City Q� Okep�chobee,--Florida,
B Y
President of City Council
Chairman, Finance Committee
ATTEST:
City
Clerk
The
above
and foregoing resolution is
hereby approved by me this
day
of March, A. D. 1935.
Mayor.
There being no
further business the Council
mov�d to adjourn.